Gas Prices 1981-2004, Adjusted for Inflation

igotatitan · 11-17-2004, 01:06 PM

Here's an interesting graph I came across. Adjusting for inflation, it doesn't seem like prices have actually changed all that much. I just wish my income kept up with inflation.

Sure, gas today averages around $2.09, but in 1981 dollars it's just $1.02 - well below the Sep 1981 price of $1.47. If gas kept up with inflation, it would be over $3 by now.

Any thoughts?

Bayou Titan · 11-17-2004, 01:46 PM

Well, that trend line certainly doesn't look good, particularly when you consider that there is no data for the last year during which time gas prices have soared.

Also, you can clearly see the difference in gas prices during different presidential administrations. I think that chart will need to be made taller or the trend line will be off the paper.

igotatitan · 11-17-2004, 01:58 PM

Actually, the data is from 9/15/1981 through 9/15/2004. I've converted the original data to CSV (comma separated values) and attached it. Any spreadsheet program should be able to load it.

Edit: Sorry, it only goes through 8/15/2004.

Edit #2: It's interesting to note that the inflation-adjusted price seems to have a support level of around $0.70 and a resistance level of around $1.00. There have been a couple of breakouts below $0.70 and above $1.00, but the prices have always returned to the $0.70 - $1.00 channel. We'll just have to wait and see what the latest breakout over $1.00 will bring. Will it go back down as it has in the past, or will it continue to break out and establish new support and resistance levels?